Ballistic Recovery Systems (CE) (USOTC:BRSI)
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Ballistic Recovery Systems, Inc. (OTCBB:BRSI)(BRSparachutes.com), a
manufacturer of whole-aircraft parachute recovery systems for general
aviation, recreational aircraft and the US Department of Defense, today
announced Mr. Fernando Caralt, President of CIMSA Ingenieria de
Sistemas, has been appointed as the seventh member of the Company’s
board of directors.
“Caralt brings more than 10 years of extensive
operating management, product development and parachute experience to
the BRS board,” said Robert L. Nelson, BRS
Board Chairman. “His vast experience and
European perspective will clearly benefit BRS as we continue to build
the Company for the future.”
Fernando Caralt joins current directors Robert L. Nelson, Boris Popov,
Thomas Adams, Darrel Brandt, Edward L. Underwood, and Larry E. Williams.
Over the past several years, Mr. Caralt has served in technical and
senior leadership capacities for a variety of aerospace companies
including the Boeing Corporation. As president of CIMSA, he successfully
built the company into a global leader in the parachute industry.
BRS and CIMSA recently entered into a partnership agreement to jointly
develop new and existing parachute systems aimed at advancing the two
companies’ shared technology in the global
aerospace market. This new collaboration between BRS and CIMSA will
address the increasingly critical role of textile-based wings and
recovery systems, including Precision Aerial Delivery (PAD) guided
parachutes, Unmanned Aerial Vehicle (UAV) applications as well as
systems designed for use in interplanetary exploration of Mars and Venus.
“I am honored to have been appointed to the
BRS Board and look forward to working at this new level to help both BRS
and the industry,” said Caralt.
Based in South St. Paul, Minnesota, BRS has delivered more than 27,000
parachute systems to aircraft owners around the world including over
3,500 systems on certified aircraft. To date, BRS parachute recovery
systems have been credited with saving the lives of 203 pilots and
passengers.
For more information, visit the company’s
website, www.BRSParachutes.com,
or contact Mr. John Gilmore, johngilmore@BRSParachutes.com
or 651-294-3264.
This press release contains forward looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995. These
statements are often, but not always, made through the use of words such
as "anticipates," "expects," "plans," "believes," "intends" and other
similar words or phrases. These forward looking statements include,
without limitation, statements relating to the benefits to be derived by
BRS from its partnership with CIMSA. These statements are only
predictions and are based on current information and expectations. Such
statements involve a number of risks and uncertainties, including market
fluctuations, pricing, procurement, manufacturing efficiencies,
operating risks and other risks that could cause the actual results to
differ materially from those projected. For more information as to these
risks and uncertainties, please review the Company's public filings made
with the Securities and Exchange Commission, particularly the Company's
annual report on Form 10-KSB. All forward looking statements are
qualified in their entirety by this cautionary statement and BRS
undertakes no obligation to revise or update this press release to
reflect events or circumstances after the date hereof.